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Thread: Another Restraint of trade

  1. #1
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    Another Restraint of trade

    Hi Gents,

    I need some insight into my situation.

    I was a shareholder/director in a company that i started a few years back, during the time i took on other shareholder, one of them responsible for finances ect. I recently resigned as a director, as i felt the company account were mismanageed and a dispute arose amongst us as directors.

    I forfitted all shares i had to the company due to a clause that was put into our shareholder agreement. The last 4 months i was with the company we received about half of our normal company compensation...part why i also left the financial burdon got to great. The other partner that handles the finances says these were not Salaries but divedends??? Something which has been very unclear and not stipulated anywhere.

    Also in this shareholders agreement is a restraind clause.. Im sure this limits me under normal procedures... If i understand correctly i may not work in my industry which is very limited?? Do i understand this correctly.

    I recently did work for a firm in Australia (lead is one of my good friends) , they have apporoached me in the mean time because they want to make use of my skills.

    There are no skills like these left at my previous company and this client does not intend on doing bussines with my previous company regardless ... Does this change anything...

    Sorry i am really a bit lost in all of this.

    I have attached the restraint clauses from my previous company....



    RHeinhardt
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  2. #2
    Site Caretaker Dave A's Avatar
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    When reading posts like these, I do tend to wonder about all the stuff that's not being said.

    One pertinent question that comes to mind - would this ordinarily be in your previous company's scope of business?
    The trouble with opportunity is it normally comes dressed up as work.

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